NZ shares join global stock rout as weak manufacturing points to slowing Chinese economy

Tue, 05 Jan 2016

By Sophie Boot Jan. 5 (BusinessDesk) - New Zealand's benchmark S&P/NZX 50 Index dropped 1.1 percent, joining a global slide in equity markets after figures showed a worsening contraction in Chinese manufacturing. The S&P/NZX 50 Index fell 70.09 points to 6254.17 in the first trading day of 2016, having climbed about 13 percent in 2015 to end the year at a record 6324.26. The Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI), fell to 48.2 in December, from 48.6 in November, below the 50-point level that separates contra...

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